BreadTalk Group is planning to buy the entire stake in Food Junction Management (FJM) for S$80 million in cash, local reports have revealed.
The seller, FJH, is some 98% owned by Auric Pacific Group Limited (APGL), a Singapore-incorporated investment holding firm mostly owned by Lippo Group. FJH involves businesses such as food manufacturing and retailing, restaurants, and food court management.
FJM operates 12 food courts in Singapore and three in Malaysia, with an additional one scheduled to open next year at The Mall, Mid Valley Southkey, in Johor Bahru.
BreadTalk now operates food courts under the Food Republic and Food Opera brands in Singapore, Malaysia, China, Hong Kong, Cambodia and Thailand. By the end of June, it ran 14 food courts in Singapore and two in Malaysia
Besides, BreadTalk has close to 1,000 retail stores across 16 markets with its bakeries, restaurants and food atriums. Its portfolio comprises direct-owned brands such as BreadTalk, Toast Box and Food Republic, as well as partner brands such as Din Tai Fung, Nayuki, and Song Fa Bak Kut Teh.